March 15, 2022
Company name:
Representative:

ES-CON JAPAN Ltd.
Takatoshi Ito, President &Representative Director(TSE 1st Section, code: 8892)

Notice of Investment in Agya Ventures Fund L.P.
ES-CON JAPAN Ltd. (“ES-CON JAPAN” hereinafter) announces decision to invest in Agya Ventures Fund L.P.
(“the Fund” hereinafter), operated by Agya Ventures Fund (GP) LLC of the United States through our subsidiary
ESCON USA IV LLC (established in February 2022), as described below.

1. Background and purpose
ES-CON JAPAN will invest USD 3 million (approx. JPY 345 million) in the Fund with the goals of continuing toexpand the business domains of the ES-CON JAPAN Group and driving innovation. To do so, ES-CON JAPANwill enhance information gathering on promising real estate tech* firms around the world and strive to form
partnerships and to advance joint projects with such promising real estate firms that have yet to venture into
the Japanese market.
The Fund focuses on investment in real estate startups who are seeking to transform existing business models
through initiatives such as promoting smart cities and digital transformation (DX) in real estate tech domains
around the world, centered on North America.
In addition, as part of its vision to make Japan a global center for real estate and community development, theFund restricts its investors (its limited partners; “LPs” hereinafter) to Japanese firms. The Fund seeks todevelop the Japanese real estate industry by providing support for international business strategies tailored to
the needs of each LP, as well as achieving synergies by combining LPs’ technologies, knowledge, andcustomer bases with technologies held by startups, centered on North America.
Under “IDEAL to REAL 2023,” our fourth medium-term management plan covering the three-year period fromthe fiscal year ending December 2021 to the fiscal year ending December 2023, one management strategy
calls for tackling the challenges of new business domains. We are proactively promoting new initiatives withan eye to the next generation. These efforts include promoting the international investment business and salesof permanent usage rights for an urban charnel house, as well as the recent acquisition of FUEL Inc., whosebusinesses include real estate crowdfunding.
ES-CON JAPAN will continue to focus on tackling challenges posed by new business domains and the global
implementation of a multifaceted real estate business capable of contributing to society.
*Applying technology to achieve solutions to challenges and to transform traditional business practices in the real estate industry

12. Overview of the Fund and subsidiary
Fund overview
Fund nameAgya Ventures Fund L.P.

Representatives

Kunal Lunawat, Nobuto Iguchi

Date of establishment

December 18, 2020

Location

Our planned investment

430 Park Avenue, 19th floor, New York, NY 10022
Seed- and early-stage startups in the real estate tech domain,
chiefly in North America
USD3 million (approx. JPY345 million)

Term

Seven years from Initial Closing DateURL

https://agyaventures.com/jp/Investment domain

Subsidiary overview
Name of subsidiary

ESCON USA IV LLC

Location

DelawareManager

Toru Kumaki

3. Impact on operating results
The impact of this investment on ES-CON JAPAN’s operating results is projected to be negligible.

<Inquiries Concerning this Press Release> Administration Group PR/IR Manager Tel: +81-3-6230-9308

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